Synchrony to Let All U.S. Staff Work From Home Permanently
- With the change, firm has been able to cut office space: CEO
- Company took $89 million restructuring charge tied to shift
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Synchrony Financial, the country’s largest provider of store credit cards, will allow all of its U.S. employees to work from home permanently.
With the change, Synchrony has been able to cut the size of some offices and close others, Chief Executive Officer Margaret Keane said on a conference call Tuesday. The Stamford, Connecticut-based company, which has 16,500 employees, took an $89 million restructuring charge tied to some of the changes, as well as voluntary and involuntary employee actions, crimping profit in the third quarter.